Business Wire

Diligent Corporation Receives New Investment from Clearlake Capital and Blackstone

Share

Diligent Corporation (“Diligent”), a leading global modern governance company used by nearly 700,000 board directors and leaders, today announced that it has received an increased investment from Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and a new investment from funds managed by Blackstone Tactical Opportunities (NYSE:BX).

Since Insight Partners (“Insight”), Diligent’s largest investor, took the company private in February 2016, Diligent has scaled from 4,400 to more than 19,000 clients and transformed its product portfolio into an integrated suite of SaaS solutions that facilitates secure collaboration, communication and meeting management for boards, committees and leadership teams. Diligent further empowers leaders to turn effective governance into a competitive advantage by driving accountability and transparency in their organizations, while addressing stakeholder and shareholder priorities and satisfying security and compliance requirements.

“Over the past few years, Insight and Clearlake have provided the resources, guidance and support that have allowed us to pursue our vision at Diligent, and I am thrilled to expand the partnership with an increased investment from Clearlake and a new investment from Blackstone,” said Brian Stafford, President and Chief Executive Officer of Diligent. “Modern governance matters more than ever in today’s world and our solutions are essential in helping board directors and executives confidently lead and drive change within their organizations. I look forward to working together with our investors to pursue our next stage of growth and continue to build transformative solutions for our clients.”

“We knew Diligent was a great company when we invested two years ago, and the Diligent team has exceeded our expectations in all respects,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. “We believe Diligent is uniquely positioned to build the modern governance category with its leading software and unwavering vision. We look forward to supporting Brian and his team, alongside Insight and Blackstone, as Diligent continues to provide best-in-class solutions to its global customer base.”

“Diligent’s world-class software offering is widely trusted by corporate leaders, including many of Blackstone’s more than 250 portfolio companies,” said Viral Patel, a Senior Managing Director at Blackstone. “As the focus on strong corporate governance only increases in the years ahead, we’re excited to partner with their management team and help fuel their continued growth moving forward.”

John Stecher, Chief Technical Officer (CTO) at Blackstone added, “We were impressed by how advanced and forward thinking the Diligent product and technology team are. They are delivering cutting-edge secure digital solutions in an area of corporate governance that is clearly growing at a rapid pace. I look forward to working with the team to advance their products and drive deeper adoption across Blackstone.”

“Since our partnership with Diligent in February 2016, the company has successfully executed against its growth strategy, accelerating revenue growth, delivering significant product innovation and deepening its presence in international markets,” said Deven Parekh, Managing Director at Insight. “It has been a pleasure to partner with and support Brian and his management team as they solidified Diligent’s leadership in the software industry. We look forward to continuing to support Diligent and partnering with Clearlake and Blackstone as the business continues to create a category.”

Terms of the transaction were not disclosed. UBS Investment Bank served as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to Diligent. Sidley Austin LLP and Kirkland & Ellis LLP served as legal advisors to Clearlake and Blackstone, respectively. PJT Partners served as financial advisor to Blackstone.

About Diligent

Diligent is the pioneer of modern governance, empowering leaders to turn effective governance into a competitive advantage. Leveraging unparalleled insights from a team of industry innovators, as well as highly secure, integrated SaaS technologies, Diligent’s industry-leading suite of solutions changes how work gets done at the executive and board levels. Leaders rely on Diligent to drive accountability and transparency, while addressing stakeholder and shareholder priorities. Its applications also help streamline the day-to-day work of board management and committees, and support collaboration and secure information sharing. Designed for both public and private sector organizations, Diligent is helping to usher in a new era of modern governance.

The largest global network of directors and executives, Diligent is relied on by more than 19,000 organizations and nearly 700,000 leaders in more than 90 countries. With an eye towards inclusivity and accessibility, Diligent serves some of the largest public governing bodies, including more than 50% of the Fortune 1000, 70% of the FTSE 100, and 65% of the ASX. More information is available at www.diligent.com.

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

About Clearlake

Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $24 billion of assets under management and its senior investment principals have led or co-led over 200 investments. More information is available at www.clearlake.com.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $564 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact information

Nicholas Koulermos
Diligent@5wpr.com
646-843-1812

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

SES Advances Digital Transformation with Cloud-First Strategy, Expanded Agreement22.9.2020 21:00:00 CESTPress release

SES today announced plans to significantly advance its digital transformation across its enterprise, operations and development of new services for the cloud-scale era. As a cornerstone of the strategy, SES signed a multi-year agreement with Microsoft to be an Azure Orbital partner as well as to accelerate and expand the use of Microsoft Azure across its operations and jointly develop cloud-based video and data connectivity managed services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005930/en/ SES Advances Digital Transformation with Cloud-First Strategy, Expanded Agreement (Photo: Business Wire) As an Azure Orbital partner, SES will be co-locating and managing O3b mPOWER gateways with Microsoft Azure locations so its customers are always only “one-hop” away from their Azure cloud services anywhere in the world. In addition, SES customers will enjoy improved network performance, speed-to-market, flexibility and sc

SES Becomes Microsoft Azure Orbital Founding Connectivity Partner22.9.2020 21:00:00 CESTPress release

SES today announced it has joined as the medium Earth orbit (MEO) connectivity partner for Microsoft Azure Orbital, Microsoft’s new managed service enabling network operators to communicate and control their satellite capacity, process data, and scale their operations directly within Azure. The integration is part of a multi-year agreement between the two companies that accelerates and expands SES’s use of Azure to significantly advance the digital transformation of the company’s services and operations as part of its cloud-first strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922005927/en/ SES Becomes Microsoft Azure Orbital Founding Connectivity Partner (Photo: Business Wire) As pioneers in Microsoft’s new cloud ecosystem in space, the two companies will make joint investments in Azure Orbital ground stations that SES will deploy and manage for the MEO and Earth Observation segments. The first MEO and Earth Obs

Workiva Wraps Up Amplify 2020: Global Conference Transformed into a Virtual Experience for Over 6,000 Attendees Across 60 Countries22.9.2020 18:13:00 CESTPress release

Workiva Inc. (NYSE:WK), the company that simplifies complex work, wrapped up its largest annual conference, Workiva Amplify, following three days of incredible virtual experiences. More than 6,000 attendees from over 60 countries participated in 42 customer, partner and Workiva led sessions focused on solving the universal challenges of data, process and reporting complexity. “This year’s record attendance at Amplify underscores the importance that organizations have placed on utilizing cloud platforms to enable greater transparency, instill trust and streamline processes,” said Workiva CEO Marty Vanderploeg. “We are proud that Amplify continues to be a place where our customers can access innovative technology and insights that help them confidently move their organizations forward.” Workiva Amplify 2020 Highlights include: Trust in an Age of Transformation The Amplify general session featured Workiva leadership and customers who highlighted the need for stability and experience when

OCP Announces Date of Second Quarter and First Half 2020 Earnings22.9.2020 18:10:00 CESTPress release

OCP S.A. (“OCP” or the “Company”), a global leader in the fertilizer industry, will release its second quarter and first half 2020 results on Tuesday, September 29, 2020. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers on the OCP Intralinks portal from 9:00 a.m. EDT, 2:00 p.m. Morocco and London time (GMT+1). OCP senior management will host a conference call to discuss second quarter and first half 2020 results at 10:00 a.m. EDT, 3:00 p.m. Morocco and London time (GMT+1) on Tuesday, September 29, 2020 for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing g.laraki@ocpgroup.ma. About OCP OCP is a global leader in the fertilizer industry, backed by almost a century’s production history. OCP has exc

Movius WhatsApp Integration Creates First True Compliant Mobile Unified Communications Solution22.9.2020 17:00:00 CESTPress release

Movius, the leading global provider of mobile unified communication software, is now enabling enterprises to securely and compliantly communicate with clients on their preferred mobile messaging channel. Today, the company announced the integration of WhatsApp support from within Movius MultiLine, their secure mobile communication service that can be deployed over any smartphone device on any global carrier. The integration will help unify and capture all business voice and messaging channels through a single integrated user experience, while enabling firms to effortlessly meet regulatory and surveillance needs. An open Beta for this integration is available now and general availability is expected in the fourth quarter, 2020. As users continue to work remotely, they will find the expanded enterprise service provides unmatched productivity anywhere – and compliance everywhere – especially as companies accelerate their emerging Bring Your Own Device (BYOD) strategies and implementations

Bioventus Reaches Milestone with 2 Million DUROLANE ® Treatments Worldwide22.9.2020 16:30:00 CESTPress release

Bioventus, a global leader in Innovations For Active Healing, is celebrating a milestone and recognizing more than 2 million treatments worldwide with DUROLANE, its single-injection, hyaluronic acid (HA) product used in the treatment of pain associated with osteoarthritis (OA). DUROLANE is the original single injection hyaluronic acid therapy, has helped patients in nearly 30 countries and is a trusted therapy for clinicians in the management of OA. Proven safe and effective, DUROLANE has more clinical studies than any other US single-injection HA, and has also been proven to provide greater reduction in OA knee pain versus Synvisc-One®.1,2 It has longer lasting pain relief versus a steroid injection, is safe and repeated use of DUROLANE does not increase the incidence of adverse events.3,4 DUROLANE is available in its original 3ml syringe for treatment of large joints and in a 1ml syringe, known as DUROLANE SJ,to enable treatment of small joints.* Both are produced using a natural, sa